Published: Monday, 21th October 2024
The Standard of living in Maldives is 3.10 times better as compared to Burkina Faso.
In this page, you will find side-by-side Standard of Living comparison between Maldives and Burkina Faso. We have created 53 standard-of-living indicators. We average the values and ranges of all those indicators and take a mathematically calculated approach to determine which country has a better standard of living between Maldives and Burkina Faso.
 Indicators  | Maldives  | Burkina Faso  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $11.977 billion USD | $20.785 billion USD |
GDP Per Capita (2023)  | 19,558 USD | 888 USD |
GINI Ratio (2023)  | 0.31 | 0.39 |
Inflation on Consumer Prices (2023)  | 2.33 % annually | 0.74 % annually |
Central Government Debt (2023)  | 57.3 % of GDP | 62.5 % of GDP |
Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced within a country in a specific time period, usually a year. It is used to gauge the economic performance of a country and indicates how wealthy and productive a nation is. In simple terms, GDP tells us how much a country is producing and how well its economy is doing.
As per the statistics from the World Bank Data for the year 2023, the total GDP of Maldives is $11.977 billion USD and that of Burkina Faso is $20.785 billion USD.
On the other hand, Gross Domestic Product (GDP) Per Capita is the average economic output per person in a country. Simply put, it shows how much, on average, each person contributes to the economy, giving an idea of the standard of living and economic well-being of the people in that country.
From the above data, we can say that a person living and working in Maldives contributes more to the country's economy compared to a person working in Burkina Faso.
Indicators | Maldives | Burkina Faso |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.762 | 0.438 |
Human Capital Index (HCI) (2024)  | Yet to Update | 0.38 |
Literacy Rate (2023)  | 97.86% (15 years+ above age) | 34.49% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 75.4 years | 62.3 years |
Healthy Life Expectancy Ratio (2023)  | 66.7 years | 54.6 years |
Poverty Ratio (2023)  | 5.4% of total Population | 43.2% of total Population |
Unemployment Rate (2023)  | 4.13% of total labor force | 5.29% of total labor force |
The Human Development Index (HDI) is a measure used to assess the overall well-being and quality of life of people living in a country. The key dimensions that give a country good HDI rank are a long and healthy life, being knowledgeable and having a decent standard of living.
From the above given statistics, we can see that the HDI of Maldives is [ 0.762 ] and the HDI of Burkina Faso is [ 0.438 ].
The data shows that the people living in Maldives has better income, life expectancy and education level compared to Burkina Faso.
Indicators | Maldives | Burkina Faso |
|---|---|---|
Gross National Expenditure (2023)  | Yet to Update | 107.1 % of GDP |
Total Health Expenditure (2023)  | 10.03 % of GDP | 6.38 % of GDP |
Research and Development Expenditure (2023)  | Yet to Update | 0.25 % of GDP |
Government Expenditure on Education (2023)  | 4.58 % of GDP | 5.28 % of GDP |
International Tourism Expenditure (2023)  | 106 million USD | 185.20 million USD |
Number of International Tourists Arrivals (2023)  | 555,000 | 67,000 |
Military Expenditure (2023)  | Yet to Update | 3.09 (% of GDP) |
Indicators | Maldives | Burkina Faso |
|---|---|---|
Number of Doctors (2023)  | 21.6 (Per 10,000 People) | 1 (Per 10,000 People) |
Number of Nurses (2023)  | 49 (Per 10,000 People) | 9.2 (Per 10,000 People) |
Number of Pharmacists (2023)  | 6.84 (Per 10,000 People) | 0.31 (Per 10,000 People) |
Available Hospital Beds (2023)  | 4.3 (Per 1000 People) | 0.4 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 98.7 % of total Population | 80.2 % of total Population |
Maldives has 21.60 times more Doctors compared to Burkina Faso (Per 10,000 People).
Maldives has 5.33 times more Nurses compared to Burkina Faso (Per 10,000 People).
Indicators | Maldives | Burkina Faso |
|---|---|---|
Agricultural Land (2023)  | 59 Sq Km | 127,400 Sq Km |
Forest Area (2023)  | 8.2 Sq Km | 61,664 Sq Km |
CO2 Emissions (2023)  | 0.22 kg per PPP $ of GDP | 0.11 kg per PPP $ of GDP |
Access to Electricity (2023)  | 100 % of total Population | 19.5 % of total Population |
Access to Internet (2023)  | 85.76 % of total Population | 21.58 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 0.005 Billion cubic meters | 0.82 Billion cubic meters |
100% of the total Population of Maldives has access to the electricity in their homes, whereas, in case of Burkina Faso, 19.5% of the total Population has access to electricity.
Indicators | Maldives | Burkina Faso |
|---|---|---|
Time Required to Start a Business (2023)  | 12 Days | 13 Days |
New Businesses Registered (2023)  | 1,627 (New Businesses) | 3,416 (New Businesses) |
New Businesses Registration Density (2023)  | 4.22 (Per 1000 People) | 0.32 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 4.1 % of GNI Per Capita | 42.8 % of GNI Per Capita |
In the year 2023, 1,627 new businesses got registered in Maldives and 3,416 new businesses got registered in Burkina Faso.
It usually takes 12 days in Maldives and 13 days in Burkina Faso to register a new business legally and systematically.
Indicators | Maldives | Burkina Faso |
|---|---|---|
Imports of Goods and Services (2023)  | Yet to Update | 35.96 % of GDP |
Total Fuel Imports (2023)  | 21.79 % of Merchandise Imports | 39.58 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 980.5 USD | 264.5 USD |
Time to Import Border Compliance (2023)  | 100 Hours | 102 Hours |
Cost to Import Documentary Compliance (2023)  | 180.44 USD | 196.5 USD |
Time to Import Documentary Compliance (2023)  | 61.33 Hours | 96 Hours |
Indicators | Maldives | Burkina Faso |
|---|---|---|
Exports of Goods and Services (2023)  | Yet to Update | 28.86 % of GDP |
Total Fuel Exports (2023)  | 0.16 % of Merchandise Exports | 0.02 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 595.75 USD | 261 USD |
Time to Export Border Compliance (2023)  | 42 Hours | 74.5 Hours |
Cost to Export Documentary Compliance (2023)  | 300 USD | 85.5 USD |
Time to Export Documentary Compliance (2023)  | 48 Hours | 84 Hours |
Indicators | Maldives | Burkina Faso |
|---|---|---|
Gross National Savings (2023)  | Yet to Update | 15.03 % of GDP |
Tax Revenue (2023)  | 19.45 % of GDP | 17.67 % of GDP |
Taxes on Exports (2023)  | 0.21 % of Tax Revenue | 0.02 % of Tax Revenue |
Taxes on Goods and Services (2023)  | 42.27 % of Tax Revenue | 39.97 % of Tax Revenue |
Taxes on International Trade (2023)  | 17.7 % of Revenue | 11.14 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 390.5 Hours | 270 Hours |
Customs and Other Import Duties (2023)  | 18.06 % of Tax Revenue | 13.8 % of Tax Revenue |
The taxes charged by Maldives on international trade is 17.7% of the total revenue and the taxes charged by Burkina Faso on international trade is 11.14% of the total revenue.
The Taxes charged on International Trade by Maldives is 1.59 times more of its total revenue than of Burkina Faso.
We hope you enjoyed the detailed guide on the standard of living comparsion between Maldives and Burkina Faso.
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